Skip to content

Global Economy

Rallies Under Way As Workers Gather For International Labour Day

May 2, 2026 Al Jazeera, Portside. , , , ,
Workers are gathering in cities around the world to mark International Labour Day, with some demonstrations, such as those in Istanbul, Turkiye, turning to scuffles with police. Trade Unions are calling for solidarity and the protection of workers’ rights as the United States-Israeli war on Iran and rising energy costs raise concerns about the global economy. “Working people refuse to pay the price for Donald Trump’s war in the Middle East,” the European Trade Union Confederation, which represents 93 trade union organisations in 41 European countries, told the media.

Chris Hedges Report: Will The Iran War Cause A Global Depression?

May 1, 2026 The Chris Hedges Report. , , , ,
The global economic impacts of the American-Israeli war on Iran are already being felt, particularly in Asia, through shortages of fuel and other necessities, the closure of factories and the loss of jobs. We are now on a path heading for a global recession, or even worse, a global depression. To sort out what potentially lies ahead and the likelihood of preventing the worst outcomes, Chris Hedges speaks with economist Richard D. Wolff, professor emeritus at the University of Massachusetts-Amherst. Wolff begins the interview by discussing the weaknesses of the capitalist economic system.

A Primer On the Petrodollar And The War On Iran

April 17, 2026 Vijay Prashad, Tricontinental Institute for Social Research. , , ,
As you and I worry about how war and inflation will impact our families and nations, bond traders are fixated on the numbers on their screens, calculating what might happen to seemingly arcane financial instruments. Their job is to protect the treasure of the wealthy. For the past fifty years, the relative stability of the US dollar – above all as embodied in US Treasury securities – has rested in part on what is called the ‘petrodollar’ system. When petroleum prices are relatively stable, the costs of production and transport are more predictable, inflation is easier to contain, and the prices of bonds and other financial assets are less likely to swing wildly.

The Strait Of Hormuz, Gate To The Great Sea

April 10, 2026 Vijay Prashad, Tricontinental Institute for Social Research. , , , ,
In the thirteenth century, the great Arab geographer Yaqut al-Hamawi described the Sea of Persia (فارس) as ‘a branch of the Great Sea’. In his compendium, Mu’jem al-Buldaan (Dictionary of Countries), he wrote that through the Sea of Persia would ‘pass the ships of India, Oman, and Basra’. Hormuz was not the name of that sea but of a ‘great mart of trade to which merchants resort from India and other lands’. Centuries later, those waters would be called the Strait of Hormuz: a fifty-four–kilometre passage between the Sultanate of Oman’s Musandam Peninsula and the Islamic Republic of Iran.

‘Restraint Is Over’: IRGC Warns Washington

April 7, 2026 News Desk, The Cradle. , , , ,
Iran’s Islamic Revolutionary Guard Corps (IRGC) warned on 7 April that it will no longer restrain itself in responding to US-Israeli attacks on its energy and petrochemical infrastructure. “Restraint is over,” the IRGC said in its statement on Tuesday.  “We will act against US infrastructure and that of its partners in a way that will deprive the United States and its allies of the region’s oil and gas for years. Regional partners of the United States should know that, until now, we have exercised significant restraint out of good neighborliness and have taken considerations into account when selecting retaliatory targets, but from this point on, all such considerations have been lifted,” the statement added. 

How Accounting For War Became An Economic Tool

April 7, 2026 Arnie Saiki, Decolonize Accounting. , , ,
In Aesop’s fable of the Fox and the Stork, the fox invites the stork to dinner and serves soup in a flat shallow dish — a vessel perfectly suited to a fox’s tongue, while inconvenient for a stork’s long bill. The stork goes hungry. When the stork returns the invitation, the soup arrives in a tall narrow jar that only a beak can reach. The fox goes hungry in turn. Each host has set the terms of the meal, and those terms happen to suit the host. There is a moment buried in the official record of the System of National Accounts revision process that has this quality.

China-Panama Tensions Impact Maritime And Merchant Sectors

April 3, 2026 TeleSur, Orinoco Tribune. , , , ,
The escalating tension with China is affecting Panama’s merchant registry, one of the largest in the world. The Panamanian maritime sector proposes to address this situation by proactively resolving any deficiencies that ships flying the Panamanian flag may present. The Panamanian government has acknowledged an increase in the detention of Panamanian-flagged vessels in Chinese ports, a phenomenon that coincides with a period of bilateral tension stemming from the withdrawal of a Chinese company from operating two ports near the Panama Canal.

South Asia In Severe Economic Crisis Due To US-Israeli War On Iran

March 31, 2026 Abdul Rahman, People's Dispatch. , , , , ,
The US-Israeli war on Iran began over a month ago. The attacks by the US and Israel have killed over 2,000 Iranians, displaced tens of thousands, and targeted Iran’s civilian infrastructure like schools, hospitals, and recreation centers. Casualties from Iran’s retaliatory attacks have also been reported in the neighboring Gulf states and in Israel. But beyond the direct death and destruction, the war has had global impacts, causing a dramatic increase in the price of crude oil, effectively shaking up the entire economy. The neighboring South Asia region has been the primary recipient of the knock-on impacts of the war.

The War On Iran Is Transforming The Global Economy

March 29, 2026 Ben Norton, Geopolitical Economy. , , ,
The US-Israeli war on Iran is transforming the geopolitical order, and could even unleash a global economic crisis. The conflict has caused the largest oil shock in history, disrupting global markets and driving up fuel and food prices. To better understand the implications for the world, Geopolitical Economy Report editor Ben Norton interviewed economist Michael Hudson, who discussed how Iran is challenging US dollar dominance and undermining Washington’s control over the global oil market, which has been a key pillar of US foreign policy.

Worse Than 2008?

March 21, 2026 Richard Heinberg, Resilience. , , , ,
Several commentators have remarked that the United States’ war on Iran carries echoes of 2008. I’ll argue here that a potential financial crash this year could actually be much worse. The Global Financial Crisis (GFC) of 2008 was the biggest economic crunch since the Great Depression. Unemployment surged, topping 10 percent in the US. Global stocks lost trillions of dollars in value. Major brokerage houses collapsed. The US auto industry only survived thanks to enormous government bailouts. How could another crash top that?

How Iran And China Shaped The War Chessboard

March 19, 2026 Pepe Escobar, The Cradle. , , , ,
China is officially responding on two parallel tracks to the Epstein Syndicate – or US-Israeli – war on Iran via a diplomatic spokesman and a military spokesman.  Translation: China sees the war both as an extreme political/diplomatic tension and a military threat.  China’s military spokesman, a People's Liberation Army (PLA) colonel, speaks with metaphors. It was he who said explicitly that the US is “addicted to war”, with only 250 years of History and only 16 years of peace.  He clearly positions the US as a global threat. And clearly, also as a moral (italics mine) threat.

Asymmetric Economic War: Iran Challenges US Dollar

March 19, 2026 Ben Norton, Geopolitical Economy. , , , ,
Iran has responded to the war of aggression that the United States and Israel launched against it on February 28 by using unconventional tactics. As the US and Israel systematically assassinate Iranian officials and bomb schools, hospitals, and residential areas, Tehran has defended its sovereignty by engaging in a campaign of asymmetric economic warfare, not only hitting US military bases in West Asia, but also targeting major US corporations, and even challenging dollar dominance.

Chris Hedges Report: War With Iran Will Trigger A Global Financial Crisis

March 17, 2026 Chris Hedges, Scheer Post. , , , , ,
Alongside the death and destruction occurring all throughout the Middle East as the war in Iran rages on, the rest of the world is experiencing the economic blowback of the conflict. Oil and natural gas prices are skyrocketing in the West as well as the Global South following the closing of the Strait of Hormuz. Yanis Varoufakis, economist and former Greek finance minister, joins The Chris Hedges Report to explain how the war will continue to mangle the global economy and what countries can expect in the coming months. “The vast majority of the very people, the blue collar workers that voted Trump in, are suffering exorbitant increases in their transport costs.

Iran’s Grand Plan To End US Presence In The Middle East

March 9, 2026 Michael Hudson, Counter Punch. , , , ,
Iran and Donald Trump have each explained why failure to fight the current war to the end would simply lead to a new set of mutual attacks. Trump announced on March 6 that “There will be no deal with Iran except unconditional surrender,” and announced that he must have a voice in naming or at least approving Iran’s new leader, as he has just done in Venezuela. “If the U.S. military must utterly defeat it and bring about a regime change, or else you go through this, and then in five years you realize you put somebody in who’s no better.”

The Plan To Put Health At The Heart Of The Global Economy

February 22, 2026 WHO-Watch Team, People's Dispatch. , , ,
For decades, finance ministers have viewed health spending the way homeowners view leaky roofs: a necessary nuisance, a cost to be minimized. Hospitals consume budgets. Doctors require salaries. Medicines drain foreign exchange. When economies tighten, health is often among the first cabinet ministers sent home with a smaller envelope. But a quiet revolution might be underway in Geneva, and it threatens to flip this logic on its head. This May, when Member States gather for the 79th World Health Assembly, they will be asked to approve something unprecedented: a formal strategy declaring that health is not a cost at all.
«123456789»
assetto corsa mods

Urgent End Of Year Fundraising Campaign

Online donations are back! Keep independent media alive. 

Due to the attacks on our fiscal sponsor, we were unable to raise funds online for nearly two years.  As the bills pile up, your help is needed now to cover the monthly costs of operating Popular Resistance.

Donate Here

Urgent End Of Year Fundraising Campaign

Online donations are back! 

Keep independent media alive. 

Due to the attacks on our fiscal sponsor, we were unable to raise funds online for nearly two years.  As the bills pile up, your help is needed now to cover the monthly costs of operating Popular Resistance.

Donate Here
Sign Up To Our Daily Digest

Independent media outlets are being suppressed and dropped by corporations like Google, Facebook and Twitter. Sign up for our daily email digest before it’s too late so you don’t miss the latest movement news.